Aon ir presentation may

1
Greg Case
Chief Executive Officer
Christa Davies
Chief Financial Officer
Scott Malchow
Senior Vice President, Investor Relations/FP&A

2
Safe Harbor Statement
This communication contains certain statements related to future results, or states our intentions, beliefs and expectations or predictions for the future which are forward-looking
statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks and uncertainties that could
cause actual results to differ materially from either historical or anticipated results depending on a variety of factors. These forward-looking statements include information about
possible or assumed future results of our operations. All statements, other than statements of historical facts that address activities, events or developments that we expect or
anticipate may occur in the future, including such things as our outlook, future capital expenditures, growth in commissions and fees, changes to the composition or level of our
revenues, cash flow and liquidity, expected tax rates, business strategies, competitive strengths, goals, the benefits of new initiatives, growth of our business and operations, plans
and references to future successes, are forward-looking statements. Also, when we use the words such as “anticipate”, “believe”, “estimate”, “expect”, “intend”, “plan”, “probably”, or
similar expressions, we are making forward-looking statements.
The following factors, among others, could cause actual results to differ from those set forth in the forward looking statements: general economic conditions in different countries in
which Aon does business around the world; changes in the competitive environment; changes in global equity and fixed income markets that could affect the return on invested
assets; changes in the funding status of Aon's various defined benefit pension plans and the impact of any increased pension funding resulting from those changes; rating agency
actions that could affect Aon's ability to borrow funds; fluctuations in exchange and interest rates that could influence revenue and expense; the impact of class actions, individual law
suits and other contingent liabilities and loss contingencies arising from errors and omissions and other claims against Aon, including client class actions, securities class actions,
derivative actions and ERISA class actions; the impact of any investigations brought by regulatory authorities in the U.S., U.K. and other countries; the failure to retain and attract
qualified personnel; the impact of, and potential challenges in complying with, legislation and regulation in the jurisdictions in which Aon operates, particularly given the global scope
of Aon’s businesses and the possibility of conflicting regulatory requirements across jurisdictions in which Aon does business; the effect of the change in global headquarters and
jurisdiction of incorporation, including differences in the anticipated benefits; the extent to which Aon retains existing clients and attracts new businesses and Aon’s ability to
incentivize and retain key employees; the extent to which Aon manages certain risks created in connection with the various services, including fiduciary and advisory services and
business process outsourcing services, among others, that Aon currently provides, or will provide in the future, to clients; Aon’s ability to implement restructuring initiatives and other
initiatives intended to yield cost savings, and the ability to achieve those cost savings; the potential of a system or network breach or disruption resulting in operational interruption or
improper disclosure of personal data; changes in commercial property and casualty markets and commercial premium rates that could impact revenues; any inquiries relating to
compliance with the U.S. Foreign Corrupt Practices Act and non-U.S. anti-corruption laws and with U.S. and non-U.S. trade sanctions regimes; failure to protect intellectual property
rights or allegations that we infringe on the intellectual property rights of others; the damage to our reputation among clients, markets or third parties; the actions taken by third parties
that preform aspects of our business operations and client services; changes in costs or assumptions associated with our HR Solutions operating segment’s outsourcing and
consulting arrangements that affect the profitability of these arrangements; and Aon’s ability to grow, develop and integrate companies that it acquires or new lines of business.
Further information concerning Aon and its business, including factors that potentially could materially affect Aon's financial results, is contained in Aon's filings with the SEC. See
Aon’s Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q for a further discussion of these and other risks and uncertainties applicable to Aon’s businesses. Aon
does not undertake, and expressly disclaims, any duty to update any forward-looking statement whether as a result of new information, future events or changes in their respective
expectations, except as required by law.
Explanation of Non-GAAP Measures
This communication includes supplemental information related to organic revenue, free cash flow, adjusted operating margin and adjusted earnings per share, that exclude the
effects of restructuring charges, intangible asset amortization, capital expenditures, transaction and integration costs and certain other noteworthy items that affected results for the
comparable periods. Organic revenue excludes from reported revenues the impact of foreign exchange, acquisitions, divestitures, transfers between business units, reimbursable
expenses and unusual items. The impact of foreign exchange is determined by translating last year's revenue, expense or net income at this year's foreign exchange rates.
Reconciliations are provided in the attached schedules. Supplemental organic revenue information and additional measures that exclude the effects of the restructuring charges and
certain other items do not affect net income or any other GAAP reported amounts. Free cash flow is cash flow from operating activity less capital expenditures. Management
believes that these measures are important to make meaningful period-to-period comparisons and that this supplemental information is helpful to investors. They should be viewed in
addition to, not in lieu of, the Company’s Consolidated Financial Statements. Industry peers provide similar supplemental information regarding their performance, although they may
not make identical adjustments

3
Agenda
Section 1 Industry-Leading Franchise Focused on Risk and People
• #1 in Risk Solutions and #1 in HR Solutions
• Largest Globally Owned Network of Resources and Capabilities
• Operating in Markets Growing Long-Term in both Size and Complexity
Section 2 What We Have Achieved Over the Last Several Years
Section 3 What We Will Do Over the Next Several Years

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Industry-Leading Franchise Focused on Risk and People
 #1 Primary Insurance Brokerage
 #1 Reinsurance Brokerage
 #1 Employee Benefits Brokerage
 Leader in Captive Management
 Leader in Affinity Programs
#1 Advisor on Risk Solutions
Market positions based on Business Insurance magazine 2013 Reader’s Choice Awards, Global Finance magazine’s Best Global Insurers 2013
awards, 2013 Intelligent Insurer Global Awards and total estimated participant counts.
 #1 Benefits Administration
 #1 HR Business Process Outsourcing
 #1 Health Care Exchanges
 Leader in HR Consulting
 Retirement
 Investment Management
 Compensation
Total 2013 Revenue
$11.8 billion
HR
Solutions
34%
Risk
Solutions
66%
#1 Advisor on HR Solutions

5
Largest Global Network of Resources and Capabilities
Aon presence in over 120 countries
with more than 500 offices
 Place more than $110 billion of premium flow
 Unparalleled market insight and data
 Strongest technology platform
 Deepest analytic expertise
 Integrated capital markets solutions
 ~31,000 colleagues globally
 World-class brand recognition
 Substantial relationships across large
corporate and middle market
 Serve half of the Fortune 500
 Administer benefits for more than 23 million
participants around the globe
 ~30,000 colleagues globally
Total 2013 Revenue by Geography
U.S.
47%
Americas
(excl.
U.S.)
10%
U.K.
13%
EMEA
20%
APAC
10%
Risk Solutions HR Solutions

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Operating in Markets Growing Long-Term…
* Source: AXCO Insurance Information Services
^ Source: IDC, Global HR Management Services Forecast, Apr 2010
Global Non-Life P/C Written Premiums ($ billion)*
... and Complexity…in Size
 Magnitude and scrutiny of risk is increasing
around the globe
 GDP growth drives insurable activity
 Emerging markets (BRICs)
 New risks and threats enter the market
$711
798
922
1,006 1,048 1,092
1,164 1,210 1,171 1,209
$1,3221,365
01 02 03 04 05 06 07 08 09 10 11 12
$36,537 36,099 37,073 38,381
40,239
42,182
$44,158
08 09 10 11 12 13 14
 U.S. Health Care Reform redefines the role of
the employer
 Continuing rise in health care costs requires
employer action
 Companies need to manage growing risk in
retirement and pension schemes
 Increasingly global workforce requires balancing
local needs with global consistency
Global HR Consulting Services Spend Forecast ($ billion)^

7
Agenda
• Focused the Portfolio
• Significantly Invested in Global Capabilities
• Delivered on Key Financial Metrics

8
Focused the
Portfolio
Significantly
Invested in Global
Capabilities
Delivered on Key
Financial Metrics
100% 100%
Underwriting
HR Solutions
Risk Solutions
32%
13%
55%
17%
83%
 Exited low-margin, capital intensive insurance underwriting
 Focused the portfolio towards higher-margin, capital light
professional services (Benfield and Hewitt Associates)
 High recurring revenue streams
 Strong free cash flow generation
2004 2009
34%
66%
100%
2013
What We Have Achieved Over the Last Several Years…

9
Delivery Technology Innovation
Systems Analytics Talent
Insights Content Brand
Focused the
Portfolio
Significantly
Invested in
Global
Capabilities
Delivered on Key
Financial Metrics
Revenue
Engine
Health Care
Exchanges

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Focused the
Portfolio
Significantly
Invested in Global
Capabilities
Delivered on
Key Financial
Metrics
3%
2% 2%
-1%
0%
2%
4%
3%
'06 '07 '08 '09 '10 '11 '12 '13
1
Organic Revenue
14.1%
15.9%
16.9%
19.7% 19.6%
19.0%
18.6%
19.0%
'06 '07 '08 '09 '10 '11 '12 '13
Operating Margin*2
EPS*
$1.69
$2.37
$3.02
$3.34
$3.48
$4.06
$4.21
$4.89
'06 '07 '08 '09 '10 '11 '12 '13
3
$816
$1,093
$865
$360
$603
$777
$1,150
$1,404
'06 '07 '08 '09 '10 '11 '12 '13
Free Cash Flow*4
* The results above represent non-GAAP measures. See Appendix A for a reconciliation of non-GAAP measures to the corresponding U.S. GAAP
measure.

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Agenda
• Unite Aon to Drive Sustainable Long-Term Growth
• Continue to Deliver on Long-Term Operating Margin Targets
• Effectively Allocate Capital through Strong Free Cash Flow Generation
• Continue to Drive Long-Term Value Creation for Shareholders

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United Aon to Drive Sustainable Long-Term Growth
2006
Salesforce.com
One revenue platform
Revenue Engine
Pipeline management, customer
feedback, productivity
Market Analytics
Global premium flow insights
Client Promise
One approach to clients
2008 2009 20102007 2011
Risk Analytics
Industry-leading models and
actuarial capability
2012 2013+
Aon United
Risk Solutions + HR Solutions
From:
• 425+ acquisitions over
the last 25 years
To:
• United Aon capable of
delivering the best of the
firm to any client
seamlessly around the
globe
Resulting In:
• Greater productivity
• Increased retention
• Increased win rates
• Increased yield

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5.8%
11.7%
14.9%
15.2% 15.3%
17.6%
16.7%
22%
2006 2007 2008 2009 2010 2011 2012 2013 Target
16.6%
18.2% 18.7%
21.6%
22.4%
21.6% 21.7%
22.5%
2006 2007 2008 2009 2010 2011 2012 2013 Target
1. Deliver $23 million of remaining
restructuring savings by the end of 2014
2. Growth in the core business and return
on incremental investments including
health care exchanges
3. Improvement in HR Business Process
Outsourcing
1. Deliver $19 million of remaining
restructuring savings by the end of 2014
2. Continued rollout of Revenue Engine
internationally
3. Aon Broking and GRIP related initiatives
4. Increases in short-term interest rates
5. Improvements in GDP or insurance
pricing
Long-Term Operating Margin Targets
* The results presented represent non-GAAP measures. See Appendix B and Appendix C for a reconciliation of non-GAAP measures for operating margin
to the corresponding U.S. GAAP measure.
Risk Solutions*
HR Solutions*
26%
16.6%

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FY'12 FY'13
Solid Balance Sheet with Strong Free Cash Flow Generation
2012 2013
Cash $291 $477
Short-Term
Investments $346 $523
Total Debt $4,165 $4,389
Total Aon
Shareholders’
Equity $7,762 $8,145
Total Debt to
Capital 34.9% 35.0%
Balance Sheet
($ mil)
1 Free cash flow is defined as cash flow from operations less capital expenditures. This non-GAAP measure does not imply or represent a precise calculation of
residual cash flow available for discretionary expenditures. A reconciliation of free cash flow to the corresponding U.S. GAAP measure can be found in Appendix A
of this presentation.
Cash Flow from Operations
($ mil)
Free Cash Flow 1
($ mil)
 Reflects significantly
improved working
capital performance
 Includes an $83
million decrease in
total pension
contributions for 2013
 Reflect strong cash
flow from operations
 Includes a $40
million decrease in
total capital
expenditures for
2013
FY'12 FY'13
$1,419
$1,633
$1,150
$1,404

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Significantly Increasing Free Cash Flow*
Uses of Cash ($mil) 2012 2013 2014 2015 2016 2017 2018
Pension Contributions¹ $638 $523 $385 $324 $302 $274 $180
- Pension Expense (non-cash) $53 $21 ↓ ↓ ↓ ↓ ↓
Restructuring – Cash $143 $152 $98 $32 $17 $12 $8
Capital Expenditures $269 $229 $240 $245 $250 $255 $260
Estimated Net Annual Increase to FCF $146 $181 $122 $32 $28 $93
Cumulative Net Annual Increase to FCF $146 $327 $449 $481 $509 $602
Uses of Free Cash Flow ($mil) 2012 2013
Dividends $204 $212
Share Repurchase2
$1,125 $1,102
M & A $162 $54
* Free cash flow is a non-GAAP measures that is defined as cash flow from operations less capital expenditures.
1 Estimate based on current actuarial assumptions as of 12/31/13 measurement date. Expect to be fully funded on a GAAP basis by end of 2016 for qualified plans.
2 The Company has $2.3 billion of remaining authorization under its share repurchase program.
Cumulative increase of $602 million annually
Aon expects to double free cash flow to more than $2.3 billion annually ($1.15 billion in 2012) over the
next three to five years driven by three key areas:
1. Operational improvement as the firm makes progress towards its long-term operating margin targets
2. Declining required uses of cash for pension and restructuring
3. A lower effective tax rate over time

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Total Return has Consistently Outperformed Peers
Notes:
1. The peer average total return includes MMC, WSH, BRO and AJG. The detailed CAGR for each peer can be found in Appendix D.
2. Total returns were calculated as of December 31. 2013.
36%
15%
12%
4%
2%
35%
24%
18%
7% 7%
52%
34%
13%
11%
13%
0%
10%
20%
30%
40%
50%
60%
1-year 2-years 5-years 8-years 10-years
Peers S&P Index AON
Consistent outperformance with
double-digit total returns over the
long-term
Annualized Total Returns (CAGR %)

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Summary – Continued Long-Term Value Creation
 Positioned for sustainable long-term growth
 Significant leverage to an improving global economy and insurance pricing
 Investing in colleagues and capabilities around the globe to better serve clients
 Opportunity for long-term operating margin improvement
 Strong balance sheet and free cash flow generation with declining uses of required cash outlays
 Increased financial flexibility and effective capital allocation is expected to drive significant shareholder value

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Appendix A: Reconciliation of Non-GAAP Measures 2006-2009
Full Year ended December 31, 2006 Full Year ended December 31, 2007 Full Year ended December 31, 2008 Full Year ended December 31, 2009
(millions)
Risk
Solutions
HR
Solutions Unallocated Continuing
Risk
Solutions
HR
Risk
Solutions
HR
Risk
Solutions
HR
GAAP Disclosures
As Reported
Total revenue 5,855 892 (59) 6,688 6,403 860 (29) 7,234 6,728 825 (25) 7,528 6,835 737 23 7,595
Compensation and benefits 3,521 610 41 4,172 3,704 576 61 4,341 3,969 553 59 4,581 4,038 493 66 4,597
Other general expenses 1,527 246 (17) 1,756 1,652 197 41 1,890 1,812 165 30 2,007 1,794 144 39 1,977
Total operating expenses 5,048 856 24 5,928 5,356 773 102 6,231 5,781 718 89 6,588 5,832 637 105 6,574
Operating income (loss) 807$ 36$ (83)$ 760$ 1,047$ 87$ (131)$ 1,003$ 947$ 107$ (114)$ 940$ 1,003$ 100$ (82)$ 1,021$
Operating margin 13.8% 4.0% 11.4% 16.4% 10.1% 13.9% 14.1% 13.0% 12.5% 14.7% 13.6% 13.4%
Reclassifications
Other general expenses
Foreign currency remeasurement gains (losses) $ 1 $ 1 $ - $ 2 $ 14 $ (3) $ 2 $ 13 $ 38 $ 2 $ - $ 40 $ (30) $ (1) $ 5 $ (26)
Other income (expense)
Foreign currency remeasurement gains (losses) $ 2 $ 13 $ 40 $ (26)
Restated
Total revenue 5,855 892 (59) 6,688 6,403 860 (29) 7,234 6,728 825 (25) 7,528 6,835 737 23 7,595
Compensation and benefits 3,521 610 41 4,172 3,704 576 61 4,341 3,969 553 59 4,581 4,038 493 66 4,597
Other general expenses 1,528 247 (17) 1,758 1,666 194 43 1,903 1,850 167 30 2,047 1,764 143 44 1,951
Total operating expenses 5,049 857 24 5,930 5,370 770 104 6,244 5,819 720 89 6,628 5,802 636 110 6,548
Operating income (loss) 806$ 35$ (83)$ 758$ 1,033$ 90$ (133)$ 990$ 909$ 105$ (114)$ 900$ 1,033$ 101$ (87)$ 1,047$
Non-GAAP Disclosures
As Reported
Revenue - as adjusted $ 5,840 $ 892 $ (59) $ 6,673 $ 6,403 $ 860 $ (29) $ 7,234 $ 6,728 $ 825 $ (25) $ 7,528 $ 6,835 $ 737 $ 23 $ 7,595
Operating income (loss) - as reported 807 36 (83) 760 1,047 87 (131) 1,003 947 107 (114) 940 1,003 100 (82) 1,021
Restructuring charges 139 17 3 159 75 10 - 85 239 15 - 254 381 31 - 412
Amortization of intangible assets 38 - - 38 38 1 - 39 63 2 - 65 93 - - 93
Hewitt related costs - - - - - - - - 2 - - 2 - - - -
Legacy receivables write-off - - - - - - - - - - - - - - - -
Transaction related costs - proxy - - - - - - - - - - - - - - - -
Headquarter relocation costs - - - - - - - - - - - - - - - -
Pension curtailment/adjustment - - - - - - - - 6 1 1 8 (54) (20) (4) (78)
Anti-bribery and compliance initiatives - - - - - - - - 42 - - 42 7 - - 7
Resolution of U.K. balance sheet
reconciliation difference - - - - - - 15 15 - - - - - - - -
Benfield integration costs - - - - - - - - - - - - 15 - - 15
Reinsurance litigation - - - - 21 - - 21 - - - - - - - -
Gain on sale of Cambridge preferred stock
investment - - - - - - - - - - - - - - - -
Endurance - - - - - - - - - - - - - - - -
Contingent commissions (15) - - (15) - - - - - - - - - - - -
Operating income (loss) - as adjusted $ 969 $ 53 $ (80) $ 942 $ 1,181 $ 98 $ (116) $ 1,163 $ 1,299 $ 125 $ (113) $ 1,311 $ 1,445 $ 111 $ (86) $ 1,470
Operating margin - adjusted 16.6% 5.9% 14.1% 18.4% 11.4% 16.1% 19.3% 15.2% 17.4% 21.1% 15.1% 19.4%
Restated
Revenue, as adjusted $ 5,840 $ 892 $ (59) $ 6,673 $ 6,403 $ 860 $ (29) $ 7,234 $ 6,728 $ 825 $ (25) $ 7,528 $ 6,835 $ 737 $ 23 $ 7,595
1 1 - 2 14 (3) 2 13 38 2 - 40 (30) (1) 5 (26)
Reclassification - Foreign currency
remeasurement gains (losses)

20
Appendix A: Reconciliation of Non-GAAP Measures 2010-2013
Full Year ended December 31, 2010 Full Year ended December 31, 2011 Full Year ended December 31, 2012 Full Year ended December 31, 2013
(millions)
Risk
Solutions
HR
Risk
Solutions
HR
Risk
Solutions
HR
Risk
Solutions
HR
GAAP Disclosures
As Reported
Total revenue 6,989 1,545 (22) 8,512 7,537 3,781 (31) 11,287 7,632 3,925 (43) 11,514 7,789 4,057 (31) 11,815
Compensation and benefits 3,939 1,041 117 5,097 4,179 2,286 102 6,567 4,260 2,360 4,385 2,455
Other general expenses 1,743 383 63 2,189 1,944 1,147 23 3,114 1,879 1,276 1,864 1,284
Total operating expenses 5,682 1,424 180 7,286 6,123 3,433 125 9,681 6,139 3,636 6,249 3,739
Operating income (loss) 1,307$ 121$ (202)$ 1,226$ 1,414$ 348$ (156)$ 1,606$ 1,493$ 289$ (186)$ 1,596$ 1,540$ 318$ (187)$ 1,671$
Reclassifications
Other general expenses
Foreign currency remeasurement gains (losses) $ (21) $ - $ 3 $ (18) $ 1 $ 12 $ (3) $ 10
Other income (expense)
Foreign currency remeasurement gains (losses) $ (18) $ 10
Restated
Total revenue 6,989 1,545 (22) 8,512 7,537 3,781 (31) 11,287
Compensation and benefits 3,939 1,041 117 5,097 4,179 2,286 102 6,567
Other general expenses 1,722 383 66 2,171 1,945 1,159 20 3,124
Total operating expenses 5,661 1,424 183 7,268 6,124 3,445 122 9,691
Operating income (loss) 1,328$ 121$ (205)$ 1,244$ 1,413$ 336$ (153)$ 1,596$
Operating margin 19.0% 7.8% 14.6% 18.7% 8.9% 14.1%
Non-GAAP Disclosures
As Reported
Revenue - as adjusted $ 6,989 $ 1,545 $ (22) $ 8,512 $ 7,537 $ 3,781 $ (31) $ 11,287 $ 7,632 $ 3,925 $ (43) $ 11,514 $ 7,789 $ 4,057 $ (31) $ 11,815
Operating income (loss) - as reported 1,307 121 (202) 1,226 1,414 348 (156) 1,606 1,493 289 (186) 1,596 1,540 318 (187) 1,671
Restructuring charges 115 57 - 172 65 48 - 113 35 66 - 101 94 80 - 174
Amortization of intangible assets 114 40 - 154 129 233 - 362 126 297 - 423 115 280 - 395
Hewitt related costs - 19 21 40 - 47 - 47 - - - - - - - -
Legacy receivables write-off - - - - 18 - - 18 - - - - - - - -
Transaction related costs - proxy - - - - - - 3 3 - - - - - - - -
Headquarter relocation costs - - - - - - - - - - 24 24 - - 5 5
Pension curtailment/adjustment - - 49 49 - - - - - - - - - - - -
Anti-bribery and compliance initiatives 9 - - 9 - - - - - - - - - - - -
Resolution of U.K. balance sheet
reconciliation difference - - - - - - - - - - - - - - - -
Benfield integration costs - - - - - - - - - - - - - - - -
Reinsurance litigation - - - - - - - - - - - - - - - -
Gain on sale of Cambridge preferred stock
investment - - - - - - - - - - - - - - - -
Endurance - - - - - - - - - - - - - - - -
Contingent commissions - - - - - - - - - - - - - - - -
Operating income (loss) - as adjusted $ 1,545 $ 237 $ (132) $ 1,650 $ 1,626 $ 676 $ (153) $ 2,149 $ 1,654 $ 652 $ (162) $ 2,144 $ 1,749 $ 678 $ (182) $ 2,245
Restated
Revenue, as adjusted $ 6,989 $ 1,545 $ (22) $ 8,512 $ 7,537 $ 3,781 $ (31) $ 11,287
Operating income (loss) - as adjusted $ 1,545 $ 237 $ (132) $ 1,650 $ 1,626 $ 676 $ (153) $ 2,149
(21) - 3 (18) 1 12 (3) 10
Operating income (loss) - as adjusted $ 1,566 $ 237 $ (135) $ 1,668 $ 1,625 $ 664 $ (150) $ 2,139
Operating margin - adjusted 22.4% 15.3% 19.6% 21.6% 17.6% 19.0%
Reclassification - Foreign currency
remeasurement gains (losses)

21
Appendix A: Reconciliation of Non-GAAP Measures - Free Cash Flow
'06 '07 '08 '09 '10 '11 '12 '13
Cash Provided by Operations 968$ 1,263$ 968$ 500$ 783$ 1,018$ 1,419$ 1,633$
Less: Capital Expenditures (152)$ (170)$ (103)$ (140)$ (180)$ (241) (269)$ (229)$
Free Cash Flow (1) 816$ 1,093$ 865$ 360$ 603$ 777$ 1,150$ 1,404$
(1) Free cash flow is defined as cash flow from operations less capital expenditures. This non-GAAP measure does not imply
or represent a precise calculation of residual cash flow available for discretionary expenditures.
(millions)

22
Appendix B: Aon GRIP – Evolution
 The Global Risk Insight Platform (GRIP) is the world’s leading proprietary database of insurance
placements. It is completely unique and proprietary to Aon
2011 – “Prove the Concept”
 Robust data set and enhanced capabilities
 Initial relationships with carriers
2012 and Beyond – “Scale the Opportunities”
 Integration of analytics tools into core client processes
 Systematic expansion of data quantity and quality
 Established delivery of the GRIP Solutions service portfolio
 Established initial relationships with 20+ carriers
 Placement of programs and facilities – “Aon Broking”
2008
Development and initial US pilot
2009
Deployment across 19 countries
2010
 Inception of Analytical tools
 Aon GRIP Solutions launched

23
Appendix B: Aon GRIP – Today
 World’s largest proprietary database of insurance placement
data
 Insights into:
 US $103 billion premium
 2 million+ opportunities to quote
 79,000 clients across 1,000 industries in 165 countries
 58 lines of coverage
 Supported by over 60 colleagues in Aon’s Center
of Innovation & Analytics in Dublin
 7,529 Aon colleagues currently inputting data
 20 Countries in North and South America, Europe, Asia and the
Pacific
 Recognized as leading innovator with accolades across
financial services industry
 Established initial client base of 20+ premier insurance
carriers around the world including Global insurers, Domestic
insurers and Lloyd’s underwriters

24
Appendix C: Health Care Exchange Investment
• Cost pressure, health care reform, and population health concerns have made this a critical time in health care. The average cost of health
coverage is $10,000+ per employee and growing three times faster than the average salary, or 8-9% per year. Employers need to reduce
trend rate, reduce volatility and ensure sustainability, while maintaining a benefits offering that attracts and retains talent.
• An exchange is a competitive marketplace consisting of buyers and suppliers that organizes and simplifies the process of evaluating and
purchasing a product or service, and it can work in health insurance
• Employer-sponsored US healthcare plans are poised to transition from a self-insured, defined benefit structure to a fully insured, defined
contribution structure which transfers risk from the employer to the insurer and fixes the employer’s cost — and a competitive market
enables this to happen without shifting cost to employees and retirees
• The exchange simplifies the management of health benefits for employers — the employer simply decides the company subsidy in the form
of a credit, and provides access to a choice of plans and insurers with full decision support, customer service, and consumer advocacy
services through Aon
1
Health Care
Credit
Defined Contribution
Subsidy
2 3
Employees Shop Across
Plan & Carrier Options
Carrier Risk & Incentives Aligned
21 Rating Bands Risk Adjustment
Bronze
Bronze Plus
Silver
Gold
Platinum
Aetna
United
BCBS
Kaiser
HealthNet
Bronze
Silver
Gold
Platinum
Bronze
Silver
Gold
Standardized
Plans
Competing
Carriers+
Aetna
United
Delta
MetLife
MetLife
United
VSP
4
Aon Active Health Exchange
 Insured health care offerings
 Communication
 Decision support
 Enrollment
 Advocacy
 HRA administration
Employer Provides Subsidy Private Exchange Platform Insured Health Care Offerings
Employer converts current
group-based health care
subsidy into an HRA credit,
which may be set at or
below the actuarial
equivalent of the current
subsidy
Retiree HRA
Medicare Advantage
Medigap
Individual Part D
Other (dental, vision)
Commission Revenue
Retiree Enrollments
Aon Retiree Health Exchange

25
Appendix C: Market Opportunity and Aon’s Solutions
• Aon’s Retiree Exchange is for post-65 retirees
who are purchasing plans to supplement their
Medicare coverage
• 49 million Medicare eligible retirees today1
• 30% (14 million) of Medicare eligible retirees today
have some sort of employer-sponsored coverage
• 66% of employers use or plan to move to an
individual market strategy for retiree health care2
• The retiree market is poised to grow at 4.5 million
per year
• The Aon Hewitt Benefits Administration is the
largest provider of Health and Benefits
administration, serving 2 million retirees
• Progress to date: We currently serve 300,000
retirees
Aon Retiree Exchange Aon Active Exchange
• Aon’s Active Exchange is a solution for large
market clients (5,000+ active employees) and is
the only fully insured multi-carrier corporate
health care exchange
• Over the past five years, there was a 19%
increase in pay and an 82% increase in health
care costs for employees
• 122 million active employees are in employer-
sponsored group medical plans today
• 95% of employers remain committed to offering
and financially supporting health benefit coverage
for their workforce3
• 33% of those employers plan to move to a
corporate exchange model in the future3
• The Aon Hewitt Benefits Administration is the
largest provider of Health and Benefits
administration, serving 7.5 million active
employees in group sponsored plans
• Progress to date: National launch in 4Q’12 with
+100,000 employees enrolled. Enrollment tripled
in 2014 to +330,000 employees; +600,000
employees and their families are covered
under plans in the exchange
1 Source: Kaiser Family Foundation
2 Source: Aon Hewitt’s 2014 Retiree Health Care Trends survey of more than 420 employers
3 Source: Aon Hewitt’s 2014 Health Care Trends survey of more than 1,230 employers

26
Appendix D: Annualized Total Returns (CAGR %)
Total Returns
Indexed to Current; % CAGR
AON MMC WSH AJG BRO S&P
1 Year 52.1% 43.1% 37.0% 39.5% 24.7% 34.6%
2 Years 34.4% 24.9% 8.8% 20.2% 7.0% 23.9%
5 Years 13.0% 15.8% 13.9% 13.7% 5.4% 18.3%
8 Years 11.3% 5.7% 2.8% 5.8% 0.4% 7.3%
10 Years 13.5% 0.2% 3.0% 4.1% 0.6% 7.4%
Notes:
1. Total returns were calculated as of December 31. 2013.

Investor Relations
Scott Malchow
scott.malchow@aon.com
Office: +44 (0) 20 7086 0100
Erika Shouldice
erika.shouldice@aon.com
Office: 312-381-5957
Steven Krall
steven.krall@aon.com
Office: 312-381-3353

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